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Search resuls for: "Yuka Obayashi Trixie Sher Li Yap"


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☆ Oil gains on US plans to refill reserves, supply concerns
  + stars: | 2023-05-16 | by ( Yuka Obayashi Trixie Sher Li Yap | Yuka Obayashi | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
TOKYO, May 16 (Reuters) - Oil prices rose for a second day on Tuesday, supported by U.S. plans to purchase oil for its Strategic Petroleum Reserve (SPR) and by raging wildfires in Canada that fuelled supply worries. The U.S. Department of Energy said on Monday it would buy 3 million barrels of crude oil for the SPR for delivery in August, and asked that offers be submitted by May 31. China's oil refinery throughput in April rose 18.9% from a year earlier to the second-highest level on record, data showed on Tuesday. Oil prices on Tuesday also drew support from supply worries stemming from wildfires in Canada. "With so much uncertainty surrounding the macro environment, the lack of any strong signals from the physical market is likely to see oil prices remain under pressure," said ANZ analysts.
☆ Oil prices extend gains on optimism over China's recovery
  + stars: | 2023-01-18 | by ( Yuka Obayashi Trixie Sher Li Yap | Yuka Obayashi | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
Summary OPEC says Chinese oil demand to rebound in 2023 after dropU.S. shale oil output set to rise in Feb to record -EIARussia sees sanctions impact on oil products -senior sourceJan 18 (Reuters) - Oil prices rose on Wednesday, extending the previous session's gains, driven by optimism that the lifting of China's strict COVID-19 curbs will lead to a recovery in fuel demand in the world's top oil importer. U.S. West Texas Intermediate (WTI) crude futures rose 68 cents, or 0.85%, to $80.56, having risen 0.4% on Tuesday. China's economic growth slowed sharply to 3% in 2022, missing the official target of "around 5.5%" and marking its second-worst performance since 1976. But OPEC kept its 2023 global demand growth forecast unchanged at 2.22 million bpd. Russia, meanwhile, expects Western sanctions to have a significant impact on its oil product exports and its production, likely leaving it with more crude oil to sell, said a senior Russian source with knowledge of the nation's outlook.
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